Mumbai’s ₹8 Crore Flat in Borivali Shocks Netizens: ₹35,000 Per Sq Ft Leaves Social Media Stunned
Mumbai’s ₹8 Crore Flat in Borivali Shocks Netizens: ₹35,000 Per Sq Ft Leaves Social Media Stunned
A 5 BHK apartment in Mumbai’s Borivali has recently been listed for over ₹8.52 crore, sparking widespread attention on social media. The property, covering more than 2,300 sq ft, comes with an asking price of around ₹35,000 per sq ft. The listing has quickly gained traction on social media platform X, with users reflecting on the sharp rise in property prices in this western suburb of Mumbai.
Many users on social media expressed disbelief at the high price tag, but real estate experts say the surge in property rates is consistent with post-pandemic trends. In fact, per square foot rates in Borivali have reportedly reached as high as ₹56,000 in some cases. In 2024, one of the most expensive real estate deals in the suburb allegedly saw a 4 BHK luxury apartment sell for ₹14 crore, equating to ₹56,000 per sq ft.
Borivali, located around a two-hour drive from South Mumbai, has become a popular residential area due to its relatively affordable real estate prices compared to more central areas of the city. However, the dramatic increase in property values in recent years has raised questions about the sustainability of these price hikes.
X Link-
Borivali sells 5 BHK apartments for ₹8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for ₹15-20 lakh in Borivali and 5 BHK didn't exist certainly 🥲#RealEstate #Mumbai #Borivali pic.twitter.com/VHTbq7Qgc2
— Mehul R. Thakkar (@MehulThakkar_) June 29, 2025
Comparisons to Dubai’s Real Estate Market
The listing for the 5 BHK apartment has led to discussions about the rising cost of living and property prices in India’s metro cities. One particular comment gained attention, suggesting that with ₹8 crore, one could instead consider investing in Dubai’s real estate market. The user pointed out that with an investment of ₹4.5 crore in Dubai, one could secure a Golden Visa, which allows long-term residency. Furthermore, the user wrote how starting a company in a Dubai free zone offers a two-year residency visa with income tax exemptions, making it an attractive option for high-net-worth individuals and entrepreneurs.
According to reports, Dubai’s lower loan interest rates, around 3.5%, compared to India’s higher home loan rates, were also highlighted as a factor that makes property investment in the UAE more appealing.
History and Name of Borivali
While property prices continue to rise, Borivali itself remains a historically rich area. According to Wikipedia, the area’s name is derived from the Marathi words “bori-vali,” meaning “place of berries,” due to the abundance of berry-laden bushes that once thrived there. These bushes played a key role in shaping the region’s identity.
As property prices in metro cities across India continue to soar, many people, especially millennials and Gen Z, are considering global alternatives for better returns and tax benefits, further adding to the conversation surrounding Borivali’s rapidly increasing real estate market.
